The Dynamics of Brand Equity: A Hedonic Regression Approach to the Laser Printer Market

The authors develop a dynamic approach to measuring the evolution of comparative brand premium, an important component of brand equity. A comparative brand premium is defined as the pairwise price difference between two products being identical in every respect but brand. The model is based on hedonic regressions and grounded in economic theory. In constrast to existing approaches, the authors explicitly take into account and model the dynamics of the brand premia. By exploiting the premia’s intertemporal dependence structure, the Bayesian estimation method produces more accurate estimators of the time paths of the brand premia than other methods. In addition, the authors present a novel yet straightforward way to construct confidence bands that cover the entire time series of brand premia with high probability. The data required for estimation are readily available, cheap, and observable on the market under investigation. The authors apply the dynamic hedonic regression to a large and detailed data set about laser printers gathered on a monthly basis over a four-year period. It transpires that, in general, the estimated brand premia change only gradually from period to period. Nevertheless the method can diagnose sudden downturns of a comparative brand premium. The authors’ dynamic hedonic regression approach facilitates the practical evaluation of brand management.brand equity, price premium, hedonic regression, Bayesian estimation, dynamic linear model

Is Gastronomy A Relevant Factor for Sustainable Tourism? An Empirical Analysis of Spain Country Brand

Tourism has become a fundamental industry for the economic growth of many countries. Due to this, there is growing competitiveness among the different destinations to attract as many tourists as possible. As a result, disciplines such as marketing have developed tools to differentiate some destinations from others and concepts such as place branding and country brand have emerged. One of the key factors forming the country brand is gastronomy, as food tourism is one way to reduce the growing problem of sustainability in tourism, as it impacts different aspects of the country’s environment. However, there is a great lack of scientific works that relate both variables. In this paper, we propose to establish that, in the case of Spain, tourists’ perception of Spanish gastronomy is a key element of its country brand. To do that, this study relies on the use of Partial Least Squares Structural Equations Modeling (PLS-SEM) using a 496 cases data set

Measuring brand image: Shopping centre case studies

'Branding' is well known for consumer products but power has shifted from manufacturers' brands towards retailers'. The term 'image' is more common than 'brand' in the context of shopping centres, but 'branding' may become more important. In this study, the authors first investigated qualitatively, asking shoppers to describe centres in 'personality' terms and eliciting clear descriptive differences between centres. For example, one in-town centre was 'dull, boring and old-fashioned . . . not exciting, just OK'; a larger regional centre was 'trendy, prestigious . . . strong, vibrant, big and colourful'. Second, the authors evaluated six UK shopping centres quantitatively using a questionnaire survey (n = 287). The 'strong and vibrant' centre scored significantly higher than the 'dull and boring' one. Despite 'branding' being little used by shopping centres, those with the better 'brand images' tended to have larger catchment areas, sales and rental incomes. The authors contend that brand management could pay rewards in terms of customer numbers, sales turnover and rental income

A study on the association between brand awareness and consumer/brand loyalty for the packaged milk industry in Pakistan

Brand awareness remains fundamental to consumer life as the interaction initiation point to the brands. This paper put forwards the relationship of brand awareness on consumer/brand loyalty in the packaged milk brands in the urban Pakistan. There is evidence of brand awareness and consumer/brand loyalty on brand equity. The approach takes into account sources of brand equity-brand awareness, consumer/brand loyalty and image (perceptions / associations) on the sample of consumer households. This paper suggests that in Pakistan among the packaged milk brands there is no relationship between brand awareness and consumer/brand loyalty. In addition, testing relationship by setting perceptions as the mediating variable between brand awareness and consumer/brand loyalty results the same. For practicing managers and marketers it is important to note that there is a need to update their understanding of the nature and role of brand awareness on convenience products which has random switch purchase behavior and low-involvement. In the current era, marketers must develop branding strategies for commodity-products such as milk packaged brands by investing and strengthening its supply chain system, to create and increase brand awareness for the milk brands in-turn to build consumer/brand loyalty than trying to directly build consumer/brand loyalty by heavy spending on promotional tools.brand awareness; consumer/brand loyalty; brand equity; brand perception

Subject: Human Resource Management

Compiled by Susan LaCette.HumanResourceManagement.pdf: 5527 downloads, before Oct. 1, 2020

A Comparison of Attitudinal Loyalty Measurement Approaches

The aim of this paper is to present the empirical tests of two measures of attitudinal brand loyalty to identify if they are items of a single construct or two distinct constructs. These two measures are an individual's propensity to be brand loyal, and attitude towards the act of purchasing a specific brand. This paper also seeks to determine which of these measures would be more useful for explaining purchasing behaviour. The results confirm the hypothesis that there is no significant relationship between the two measures in the business services market. This indicates that they are in fact not measures of the same concept but two separate concepts. Aggregating the scores from both measures to form a single score for attitudinal loyalty would reduce richness of explanation for marketing practitioners. in addition, the results suggest that the attitude towards the act of purchasing a brand can be used to explain or predict purchasing behaviour

Subject: Groups and Organizations

Compiled by Susan LaCette.GroupsandOrganizations.pdf: 992 downloads, before Oct. 1, 2020

Destination Image on the DMO's Platforms: Official Website and Social Media

Tourists usually configure and develop ideas about possible destinations based on information previously gathered from both social media and the official web of the destination management organization (DMO). In spite of the relevance of said information sources, there have not been many studies evaluating how these different sources influence the destination image. This research proposes a model intended to explain the image creation process of a destination taking into account both the DMO’s online platforms and the perceived psychological distance. The proposed model is tested with an empirical study including a questionnaire which collects data from 264 participants. The validity of the model is reviewed through PLS analysis. Results show that the psychological distance does not influence the overall destination image. In addition, the overall destination image can be estimated to a larger extent when tourists approach social media as their main source of information. Implications and conclusions are discussed.Universidad de Málaga. Campus de Excelencia Internacional Andalucía Tech

Bottom-up approach to manage customers, product categories, and brands simultaneously

One of the most relevant marketing objectives is to create value for both to and from customer (Kumar & Reinartz, 2016). In order to create value for customers, marketers develop and manage product categories and brands to deliver the intended value proposition. In turn, customer-centric practices aim to extract value from customers in the form of customer lifetime value (Kumar & Reinartz, 2016). Although these levels of decision-making – customer, product category, and brand – are clearly intertwined, extant marketing research has mostly addressed them separately. In this PhD dissertation, a collection of three papers is presented with the main objective of proposing and empirically applying a framework to manage customers, product categories, and brands simultaneously. The first paper is a conceptual paper in which a customer, product category, and brand (CPB) bottom-up approach is proposed to unify the performance assessment of these three perspectives and managerial implications of applying it are provided. In the second paper, methods based on the traditional recency, frequency, and monetary value (RFM) method (Fader, Hardie, & Lee, 2005b; Fader, Hardie, & Shang, 2010) are proposed to estimate customer values per product category (RFM/P). Using these methods, the CPB bottom-up approach was partially addressed, considering only customer and product category perspectives, and empirically applied using data from a financial services company and a supermarket. One of the most relevant marketing objectives is to create value for both to and from customer (Kumar & Reinartz, 2016). In order to create value for customers, marketers develop and manage product categories and brands to deliver the intended value proposition. In turn, customer-centric practices aim to extract value from customers in the form of customer lifetime value (Kumar & Reinartz, 2016). Although these levels of decision-making – customer, product category, and brand – are clearly intertwined, extant marketing research has mostly addressed them separately. In this PhD dissertation, a collection of three papers is presented with the main objective of proposing and empirically applying a framework to manage customers, product categories, and brands simultaneously. The first paper is a conceptual paper in which a customer, product category, and brand (CPB) bottom-up approach is proposed to unify the performance assessment of these three perspectives and managerial implications of applying it are provided. In the second paper, methods based on the traditional recency, frequency, and monetary value (RFM) method (Fader, Hardie, & Lee, 2005b; Fader, Hardie, & Shang, 2010) are proposed to estimate customer values per product category (RFM/P). Using these methods, the CPB bottom-up approach was partially addressed, considering only customer and product category perspectives, and empirically applied using data from a financial services company and a supermarket. The results show a better predictive accuracy of the proposed RFM/P methods over traditional RFM ones and novel managerial analyses are provided. Finally, in the third paper, the method used in the second paper is extended to additionally incorporate bran was highlighted and, through various analyses, key managerial insights that would not be possible using extant methods are provided to drive marketing efforts and increase profitability.Um dos mais relevantes objetivos do marketing é criar valor tanto a partir do cliente quanto para o cliente (Kumar & Reinartz, 2016). Para criar valor para o cliente, profissionais de marketing desenvolvem e gerem categorias de produtos e marcas para entregar a proposição de valor pretendida. Por outro lado, práticas centradas no cliente objetivam extrair valor dos clientes sob a forma de customer lifetime value. Embora esses níveis de tomada de decisão – clientes, categorias de produtos e marcas – sejam claramente interligados, pesquisas anteriores têm, na maioria dos casos, endereçado essas perceptivas separadamente. Nesta dissertação, uma coleção de três artigos é apresentada com o objetivo principal de propor e aplicar empiricamente uma abordagem para gerir simultaneamente clientes, categorias de produtos e marcas. O primeiro artigo é um artigo teórico no qual uma abordagem de gestão de baixo para cima de clientes, categorias de produtos e marcas é proposta para unificar a mensuração de performance dessas três perspectivas e implicações gerenciais a partir da adoção dessa abordagem são providas. No segundo artigo, métodos baseados no tradicional método de recência, frequência e valor monetário (RFM) (Fader Hardie, & Lee, 2005b; Fader, Hardie, & Shang, 2010) são propostos para estimar o valor dos clientes por categoria de produto (RFM/P). Usando esses métodos, a abordagem de gestão de baixo para cima de clientes, categorias de produtos e marcas foi parcialmente endereçada, considerando apenas clientes e categorias de produtos, e aplicada empiricamente usando dados de uma empresa de serviços financeiros e de um supermercado. Os resultados evidenciam uma melhor acurácia preditiva dos métodos RFM/P propostos sobre os tradicionais métodos RFM e novas análises gerenciais são apresentadas. Finalmente, no terceiro artigo, um dos modelos usados no segundo artigo é estendido para adicionalmente incorporar a marca na abordagem de gestão de baixo para 9 cima de clientes, categorias de produtos e marcas. Esse método é aplicado usando os dados de uma empresa tradicionalmente centrada em produtos, uma grande distribuidora de bens de consumo embalados. Novamente, a performance preditiva obtida foi maior do que aquela do tradicional método RFM. Além disso, a relevância da abordagem de gestão de baixo para cima de clientes, categorias de produtos e marcas foi destacada e, por meio de diversas análises, implicações gerenciais chave que não seriam possíveis utilizando métodos tradicionais foram desenvolvidas para direcionar os esforços de marketing e aumentar a lucratividade